InCharge Debt Solutions Review

InCharge provides free credit counseling services. Should you decide to continue through to a debt management plan (DMP), InCharge is a non profit organization that charges negligible fees when compared to other debt relief services. Although the company advertises debt consolidation, they do not provide debt consolidation loans. Rather they deal directly with your creditors while you pay the negotiated monthly payment to InCharge. Since you are paying only one payment to one entity, for all intents and purposes your debts are "consolidated." Though InCharge will be talking to your creditors, it is not the same thing as a debt settlement program. When you employ their services, you still will be paying off the entirety of your debt. What the company does do, though, is negotiate to reduce or eliminate interest rates and fees, and adjust the term length to come up with a clear and easy to follow roadmap that will lead to paying off the whole debt. InCharge averages a reduction of interest rates to between 8-12%, and debt payoff time of 3-5 years. InCharge recommends the suspension of credit card usage for this time.

InCharge has an unusually large range of debt amounts they will deal with, as low as $1,000 all the way up to $50,000. Although the company does not specify what kinds of debts they allow, credit counseling services typically can consolidate any type of unsecured debt. This includes credit cards, gas cards, store cards, personal loans, certain accounts in collection, etc. Unlike debt consolidation loans, which are usually only a favorable option if you have good credit, credit counseling qualifications are somewhat more lax. Any credit score is welcome.

The set up fee for InCharge debt management plans averages around only $40. The average monthly service fee can be as low as $25, but will not exceed $55. This depends on several factors including where you are located, types of debts, and credit score. Still, these figures are quite low when compared to other options. The interest someone with less than ideal credit would be paying on a debt consolidation loan can be high. And fees associated with debt settlement, particularly if you are dealing with a less than reputable company, can be astronomical.

InCharge is a BBB-accredited business with an A+ grade. The company is also a member of the National Foundation for Consumer Credit (NFCC), which is an organization that certifies all participants adhere to the highest standards of honesty and accuracy when advising customers in debt repayment. Additionally, InCharge is on the Board of Directors of the Jump$tart Coalition for Personal Financial Literacy, an organization seeking to promote financial literacy in schoolchildren. InCharge is also accredited by the Council on Accreditation and certified by HUD.